New Look (company)

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New Look Retailers Ltd
Private
Industry Retail
Founded 1969
Taunton, Somerset,
United Kingdom
Founder Tom Singh
Headquarters Weymouth, Dorset, United Kingdom
Number of locations
 1,160 approx. (2014)[1]
Area served
 Worldwide
Key people
 Christo Wiese
Products Clothing
Revenue Increase GBP £1,528 million (2014)[1]
Increase GBP £805.9 million (2014)[1]
Owner Brait SE
Website www.newlook.com

New Look is a South African-owned British global fashion retailer with a chain of high street shops. It was founded in 1969 and has been owned since May 2015 by investment company Brait SE, controlled by Christoffel Wiese.

History

New Look was founded by Tom Singh in Taunton, Somerset in 1969.[2] Since then the company has rapidly expanded and now operates across a chain of over 1,000 stores internationally, including Belgium, France, the Netherlands, the Republic of Ireland, Romania, Malta, Malaysia, South Korea, Singapore, Thailand, Indonesia, United Arab Emirates, China, Germany, Russia, Bahrain, Saudi Arabia, Azerbaijan and Poland, and a staff of over 30,000.[citation needed] The group had a turnover of £1,147 million in 2008 with profits of £180 million.[3]

New Look was owned by private equity groups Apax Partners and Permira, and founder Tom Singh,[4] until May 2015 when it was acquired by Brait SE for £780 million. Brait also owns the health club chain Virgin Active and has a minority stake in Iceland Foods.[5]

In 2008, New Look continued its expansion in the GBE and opened its largest store till then in Chicago One Shopping Centre.[citation needed] In February 2009, its 40th anniversary year, it opened its first store in Russia.[6]

In July 2010, New Look opened its 300th flagship store in Glasgow Fort Shopping Park. The store is a massive 18,000 sq ft (1,700 m2). It was built on the site of a former Borders store.

The largest New Look store in the world opened in Dublin, Ireland on 4 November 2010 located at the Jervis Shopping Centre.[7] It is the 29th New Look store in Ireland.

In 2004, after six years afloat, the company withdrew from the stock market and was taken back to being a privately owned business by founder Tom Singh and chief executive Phil Wrigley, and private equity investors Permira, Apax Partners and Quillian Investments.

On 26 April 2007, a fire occurred at a New Look branch in Oxford Street, London.[citation needed] The subsequent investigation revealed an extensive catalogue of failings relating to fire safety precautions and measures. The company subsequently pleaded guilty to criminal charges and on 25 November 2009, was fined a total of £400,000 with £136,052 costs.[8]

In 2010, the fines were upheld by the Court of Appeal.[9]

Promotions

In 2007, New Look launched its first advertising campaign for three years. The same year it used online advertising for the first time and launched its transactional website, which went live in December 2007 and currently carries womenswear, menswear, Generation 915 for teens, kids, footwear, accessories, lingerie, maternity, tall, petite and Inspire (sizes 18–26).

  • New Look Store — exterior in Liverpool

  • New Look Store — interior in Liverpool

  • New Look store inside the Merrywalks shopping precinct, the New Look logo was before the change in November 2013.

See also

  • Top Track 100 — list of 100 largest private companies, New look is at no 32.

References

  1. ↑ 1.0 1.1 1.2 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Sunday Times Top Track 100, 29 June 2008.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links


News items
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